According to Omgeo, its Oasys Global is an electronic trade allocation and confirmation system for brokers and dealers, investment managers and custodian banks and Omgeo Central Trade Manager (CTM) is a global platform for the central matching of fixed income and equity transaction for investment managers. NSE.IT XpressSTP is a messaging network for straight-through processing (STP).
Omgeo said that the links between NSE.IT’s XpressSTP and Omgeo’s Oasys Global and CTM provide increased STP for cross-border Indian trades, thus providing greater risk management, reduced costs and significantly fewer errors with trade processing.
Omgeo Oasys Global and Omgeo CTM messages are compliant with local SEBI requirements and trade details are either accepted or rejected through the Omgeo services so that only accepted messages are sent through NSE.IT XpressSTP for settlement, added Omgeo.
Ramesh Padmanabhan, CEO of NSE.IT, said: By partnering with Omgeo, we are pleased to bring further efficiency by reducing the need for clients to send two similar, yet separate, messages. By receiving messages that are already agreed between counterparties, we are confident that fewer failed trades will result and operational risk will be significantly reduced.